The Sri Lankan government’s efforts to divest a majority stake in SriLankan Airlines has reached a new chapter as conglomerate Supreme Global has emerged as a potential suitor. This development was confirmed by an official announcement from MMAG Holdings Berhad, which has entered into a commercial agreement with Supreme Global to establish and operate a cargo feeder network if Supreme Global takes control of SriLankan Airlines.
The government of Sri Lanka has initiated the sale process of its national airline and the deadline for potential bidders is April 22, 2024. At least six parties, including notables such as AirAsia Consulting Sdn Bhd and Hayleys PLC, have reportedly participated in the tender process. Supreme Global’s involvement in this process brings a new dynamic to the bidding field and signals potential changes in Sri Lanka’s aviation landscape.
The agreement between MMAG Holdings Berhad and Supreme Global stipulates that freight aircraft and operational support will be provided to MMAG Aviation Consortium Sdn Bhd to establish and manage an efficient cargo feeder network for SriLankan Airlines if Supreme Global is awarded the contract. This marks a strategic move for Supreme Global as it expands its operations in the aviation and logistics industries.
MMAG Holdings Berhad, particularly MJets Air Sdn Bhd Kargo The experience and resources that MMAG brings to this agreement could be crucial in optimizing SriLankan Airlines’ operations, particularly in the area of cargo transportation.
Supreme Global, which has major business interests in the United States, further strengthened its position in the market during the acquisition of SriLankan Airlines. The experience and resources the company has invested in various industries could also help transform SriLankan Airlines into a profitable and competitive airline.
However, the development of this potential deal also raises questions, particularly regarding the future of SriLankan Airlines and the impact on employees, passengers and the Sri Lankan aviation sector as a whole. As negotiations progress, it remains to be seen which bidder will ultimately win and how this will impact the country’s airline industry.
The post MMAG Holdings wants to take over SriLankan Airlines appeared first on Aviation.Direct.
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